Ninepoint Partners LP Purchases 29 Shares of Meta Platforms, Inc. (NASDAQ:META)

Ninepoint Partners LP increased its position in Meta Platforms, Inc. (NASDAQ:META) by 1.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,601 shares of the social networking company’s stock after buying an additional 29 shares during the period. Ninepoint Partners LP’s holdings in Meta Platforms were worth $937,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Howard Capital Management Group LLC lifted its stake in Meta Platforms by 17.9% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock worth $946,000 after purchasing an additional 251 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Meta Platforms by 6.5% in the 3rd quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock worth $1,928,185,000 after purchasing an additional 204,412 shares in the last quarter. United Bank lifted its stake in Meta Platforms by 22.2% in the 3rd quarter. United Bank now owns 5,569 shares of the social networking company’s stock worth $3,188,000 after purchasing an additional 1,011 shares in the last quarter. 1776 Wealth LLC purchased a new stake in Meta Platforms in the 3rd quarter worth $282,000. Finally, Turtle Creek Wealth Advisors LLC lifted its stake in Meta Platforms by 1.9% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 13,431 shares of the social networking company’s stock worth $7,688,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on META. Wells Fargo & Company boosted their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Piper Sandler upped their target price on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Jefferies Financial Group upped their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research report on Monday, January 6th. JMP Securities restated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Finally, Argus set a $775.00 target price on shares of Meta Platforms in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $718.31.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the firm’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the transaction, the chief financial officer now owns 51,793 shares of the company’s stock, valued at approximately $38,154,349.31. This trade represents a 14.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $607.50, for a total transaction of $369,360.00. Following the completion of the transaction, the chief operating officer now directly owns 7,446 shares of the company’s stock, valued at approximately $4,523,445. This represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 632,023 shares of company stock valued at $414,734,884 over the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $584.06 on Thursday. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The firm’s 50 day moving average price is $656.27 and its 200-day moving average price is $604.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market cap of $1.48 trillion, a PE ratio of 24.42, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the business earned $5.33 earnings per share. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a dividend of $0.525 per share. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 8.78%.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.